By Omobola Tolu-Kusimo
No fewer than 15,418 employers have acquired their pension compliance certificates (PCCs).
This was made identified within the Nationwide Pension Fee’s (PenCom) publication entitled: Schedule of Employers Issued with Certificates with Provisions of the PRA 2014 as at Might 10, 2021.
The certificates is necessary for house owners of corporations who wish to do enterprise with the Federal Authorities. Those that fail to adjust to the Pension Reform Act (PRA) 2014 don’t get the roles.
The regulator famous that the 15,418 employers had been from numerous sectors, and so they had contributed and remitted their staff’ pension contributions into their Retirement Financial savings Accounts (RSA) final 12 months.
In line with PenCom, a number of the corporations that received the certificates embrace Sterling Financial institution Plc, which remitted N1.22 billion for its 2417 staff; Constancy Financial institution Plc., remitted N827 million for 2904 staff and Reynolds Building Firm Restricted, which remitted N739 million for 3764 staff.
The information confirmed that AIICO Insurance coverage contributed and remitted N193.93 million for its 296 staff final 12 months, whereas NSIA Insurance coverage remitted N60.97 million for 128 staff and FBInsurance, remitted N128.36 million for 171 staff.
Additionally, Linkage Assurance Plc remitted N60.14 million for 174 staff; Custodian and Allied Insurance coverage Restricted, N59.91 million for 121 staff; Custodian Life Assurance Restricted, N24.73 million for 49 staff and Unitrust Insurance coverage Firm Restricted, N52.88 million for 115 staff.
Mutual Advantages Life Assurance Restricted remitted N51.32 million for 145 staff; Mutual Advantages Assurance Plc. N91.58 million for 198 staff; Regency Alliance Insurance coverage Plc., N36.16 million for 119 staff and Jaiz Takaful Insurance coverage Plc., M12.66 million for 36 staff.
Insurance coverage brokers had been additionally cleared and issued certificates. Plum Insurance coverage Brokers Restricted was cleared having remitted N1.07 million for seven of its staff. Threat Analyst Insurance coverage Brokers Restricted remitted N4.39 million for 29 staff and YOA Insurance coverage Brokers Restricted remitted N21.81 million for 52 staff.
The report additional confirmed that Afrigblobal Insurance coverage Brokers Restricted remitted N6.14 million for 18 staff; Jolly & Companions Insurance coverage Brokers Restricted remitted N1.47 million for 5 staff and Manny Insurance coverage Brokers Restricted remitted N1.03 million for seven of its employees.
In the meantime, the fee said that as on the finish of third quarter of final 12 months, 5,700 personal organisations utilized for PCCs. Of this quantity, 5,432 organisations had been issued certificates whereas 268 purposes had been rejected for not assembly the necessities.
It stated N244,979,121,189.77 was remitted into the RSAs of 76,498 staff by the organisations issued certificates.